§ 21–2115. Construction of power relating to retirement plan transactions.
In a statutory power of attorney the language granting power with respect to retirement plan transactions empowers the agent to:
(1) Select payment options under any retirement plan in which the principal participates, including plans for self-employed individuals;
(2) Designate beneficiaries under those plans and change existing designations;
(3) Make voluntary contributions to those plans;
(4) Exercise the investment powers available under any self-directed retirement plan;
(5) Make “rollovers” of plan benefits into other retirement plans;
(6) If authorized by the plan, borrow from, sell assets to, and purchase assets from the plan; and
(7) Waive the right of the principal to be a beneficiary of a joint or survivor annuity if the principal is a spouse who is not employed.